City’s residential market picks up pace

Hyderabad: After a prolonged lull, the city’s residential sector is finally picking up pace, show latest industry reports. A Knight Frank survey released on Wednesday indicated that India’s south zone – including Hyderabad — hit a ‘future sentiment’ score of 66 (anything above 50 points indicates a rise) by the end of 2020, which is among the highest in the country. The finding is corroborated by city’s realty players.

“Contrary to expectations, property sales have touched 80% of pre-Covid figures. This upswing has been visible since last quarter of 2020 (October to December). Also, with 70% to 80% of the migrant workforce returning to the city, there is increased momentum in the market,” said Ashwin Rao, director, Manbhum Constructions. He added: “The fact that work is also normalising across most sectors – with IT doing exceptionally well – is also helping the residential segment.”